Pensions
IBM Secures $6B Pension Risk Transfer With Prudential
The latest deal follows the company closing its defined contribution plan in 2023 in favor of a cash-balance pension plan and an earlier $16 billion PRT.
Prudential, MetLife to take over responsibility for 100,000 participants and beneficiaries.
Noradeen Farlekas replaces MMBB’s outgoing chief and longtime employee, Candace Cox.
Fund to also connect startups with Fortune 500 clients.
Reflections on his first year, de-risking, and how IBM got to the enviable position of having a fully funded plan.
Dismisses High Court’s 2015 ruling that said Project Waltz breached contractual duty with employees.